Take-Two Posts $38M Loss For Fiscal Q1

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Take-Two today posted their financial results, revealing a net loss of $38 million for their first fiscal quarter of 2008 (ended January 31st, 2008), compared to last year’s loss of $21.5 million. $16.5 million more was lost in comparison to last year sadly. Net revenue on the other hand was $240.4 million, which is a decrease from last year’s $277.3 million. Contributors to this year’s revenue were BioShock, the 2K Sports franchises, and of course, the Grand Theft Auto series.

Obviously, Take-Two went on to predict next quarter’s results would be much improved, since quite possibly their biggest game, GTA IV, will be released. One can’t help but wonder how these results will factor into the possible EA buyout, however don’t expect it to have much effect just yet, since Take-Two has gone on to say they’ll wait until after the release of GTA IV before any “talks” with EA.